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Japan and China are jostling for position in investing in developing economies in Asia. And Japan appears to have won the latest round. Bangladesh has accepted Japan’s proposal to finance and build a new port at Matarbari. This seems likely to result in the country shelving the project it was negotiating with China: a deepwater port in Sonadia, some 25km from Matarbari. Japan offered easy financing terms, power plants and an LNG terminal as well as the port.

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